The Preiss Company Enters Elon Student Housing Market with New Acquisition
Thursday March 03, 2011
Newest property marks Raleigh real estate company’s first footprint in Alamance County
RALEIGH, NC – March 3, 2011 – The Preiss Company, one of the largest off-campus student housing providers in the nation, is pleased to announce its first student housing acquisition in Elon, North Carolina—The Crest at Elon. The acquisition was headed by company Vice President of Business Development, John Preiss and was financed by RBC. Sara Clark of The Preiss Company will be managing the property.
The Crest at Elon is a multi-family property located adjacent to Elon University at 756 E Haggard Avenue and offers four-bedroom/four-bathroom units. Amenities include clubhouse with gym and a game room. The Preiss Company is planning to make a substantial investment in capital expenditures to enhance the property. Improvements will include large flat screen TVs in the clubhouse, upgrades made to the computer café, new fitness equipment for the gym, and new flooring. Preiss is pleased with the company’s first footprint in Alamance County and says that the continued expansion into new markets continues to position the company as a leader in the off-campus student housing industry.
“We are really excited about this property,” says Preiss. “The Crest at Elon adds another city to our expansive portfolio and introduces a brand-new market to The Preiss Company. Our management style, measurement tools, and marketing initiatives continue to set our properties apart from our competitors and residents are taking notice. This is a great opportunity for us, and we look forward to making our mark in Elon.”
The Preiss Company has achieved dozens of industry awards over its 24 years in business. The company has been a multi-year recipient of the Raleigh Chamber of Commerce's coveted Pinnacle Business Award, winner of the Metro Bravo Award for Residential Real Estate, and winner of the Triangle Fast 50 Award for fastest growing company. The Preiss Company has also been recognized by Triangle Business Journal as one of the Triangle’s Top Women-Owned Businesses, one of the Triangle’s Top Apartment Property Management Companies, and one of the Triangle’s Top Commercial Real Estate Brokers. The company was also honored by Commercial Real Estate Women (CREW) Network with their 2008 Impact Award—receiving Honorable Mention in the category of Industry Innovator—and awarded the Steady Growth and Profitability Master Award by the Greater Raleigh Chamber of Commerce.
About The Preiss Company
Founded in 1987, The Preiss Company is the leader in the development of new technologies, tools, and strategies for the student housing industry and acts as a receiver for several national banks. The company employs over 250 team members, has formed over 50 partnerships, and has developed over 20 projects stretching from Maryland to Texas. For more information, visit www.tpco.com.
Amy Barger, Marketing Director
The Preiss Company